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of <h1>Central Government Notifies 'The Asthika Samaj, Mumbai' Under Section 10(23C)(v) for Tax Exemption with Specific Conditions</h1> The Central Government has notified 'The Asthika Samaj, Mumbai' under clause (23C)(v) of section 10 of the Income-tax Act, 1961, applicable for the assessment years 1999-2000 to 2001-02. The notification is subject to conditions: the organization must apply its income solely for its established purposes, invest funds as specified in section 11(5), and maintain separate accounts for any incidental business activities. It must also file regular income tax returns. In case of dissolution, any surplus and assets must be transferred to a charitable organization with similar objectives.
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